L 
4.04
0.00%
Close of 9 Nov 2026, in HKD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.12bn
FY2020FY2025
Net income
CN¥156.5m
FY2020FY2025
Free cash flow
−CN¥229.5m
FY2020FY2025
Shareholders' equity
CN¥1.74bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥2.12bn | CN¥1.95bn | CN¥1.24bn | CN¥4.61bn | CN¥4.89bn | CN¥910.1m |
| Gross profit | CN¥198.5m | CN¥210.1m | CN¥226.6m | CN¥545.3m | CN¥532.0m | CN¥74.3m |
| Operating income | CN¥91.8m | CN¥89.0m | CN¥127.1m | CN¥440.1m | CN¥484.1m | CN¥29.2m |
| Net income | CN¥156.5m | CN¥395.8m | CN¥118.9m | CN¥380.9m | CN¥447.3m | CN¥29.7m |
| Diluted earnings per share | 0.27 | 0.69 | 0.22 | 0.67 | 0.79 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | CN¥2.22bn | CN¥1.92bn | CN¥1.45bn | CN¥1.44bn | CN¥1.32bn | CN¥380.3m |
| Cash and short-term investments | CN¥568.2m | CN¥838.0m | CN¥217.9m | CN¥346.4m | CN¥225.1m | CN¥59.0m |
| Total liabilities | CN¥400.4m | CN¥371.9m | CN¥281.1m | CN¥549.3m | CN¥758.8m | CN¥256.0m |
| Debt | CN¥110.8m | CN¥166.5m | CN¥58.0m | CN¥74.9m | CN¥95.1m | CN¥48.6m |
| Shareholders' equity | CN¥1.74bn | CN¥1.50bn | CN¥1.13bn | CN¥878.9m | CN¥554.3m | CN¥115.3m |
| Shares outstanding | 572m | 573m | 543m | 568m | 568m | 568m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | CN¥201.3m | CN¥79.3m | CN¥41.0m | CN¥585.3m | CN¥588.0m | CN¥59.3m |
| Capital spending | −CN¥430.8m | −CN¥460.7m | −CN¥311.8m | −CN¥620.8m | −CN¥810.5m | −CN¥52.8m |
| Free cash flow | −CN¥229.5m | −CN¥381.4m | −CN¥270.8m | −CN¥35.4m | −CN¥222.5m | CN¥6.5m |
| Dividends paid | −CN¥131.9m | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.02bn | CN¥1.11bn | CN¥1.05bn | CN¥1.19bn | CN¥694.1m | CN¥753.9m | CN¥439.6m | CN¥581.1m |
| Gross profit | CN¥66.8m | CN¥106.0m | CN¥95.9m | CN¥142.0m | CN¥82.7m | CN¥68.1m | CN¥39.7m | CN¥78.1m |
| Operating income | −CN¥23.0m | CN¥43.2m | CN¥37.5m | CN¥62.8m | CN¥36.6m | CN¥17.5m | CN¥7.7m | CN¥15.8m |
| Net income | CN¥182.6m | CN¥30.6m | CN¥129.6m | CN¥386.4m | CN¥225.0m | CN¥9.4m | CN¥5.5m | CN¥14.7m |
| Diluted earnings per share | 0.32 | 0.05 | 0.23 | 0.67 | 0.39 | 0.02 | 0.01 | 0.03 |
| Cash from operations | — | CN¥179.0m | CN¥29.0m | CN¥87.0m | — | −CN¥8.0m | −CN¥4.0m | −CN¥28.0m |
| Capital spending | — | −CN¥229.0m | −CN¥212.0m | −CN¥433.0m | — | −CN¥26.0m | −CN¥15.0m | −CN¥62.0m |
| Free cash flow | — | −CN¥50.0m | −CN¥183.0m | −CN¥346.0m | — | −CN¥34.0m | −CN¥19.0m | −CN¥90.0m |
| Total assets | CN¥2.33bn | CN¥2.22bn | CN¥2.34bn | CN¥1.92bn | CN¥2.24bn | CN¥1.58bn | CN¥1.84bn | CN¥1.45bn |
| Cash and short-term investments | CN¥572.5m | CN¥568.2m | CN¥737.9m | CN¥838.0m | CN¥975.8m | CN¥191.7m | CN¥223.3m | CN¥217.9m |
| Debt | CN¥110.1m | CN¥110.8m | CN¥161.5m | CN¥166.5m | CN¥102.1m | CN¥116.0m | CN¥60.9m | CN¥58.0m |
| Shareholders' equity | CN¥1.86bn | CN¥1.74bn | CN¥1.74bn | CN¥1.50bn | CN¥1.75bn | CN¥1.15bn | CN¥1.34bn | CN¥1.13bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 9.3% | 10.8% | 18.3% | 11.8% | 10.9% | 8.2% |
| Operating margin | 4.3% | 3.8% | 10.3% | 8.7% | 9.9% | 4.3% |
| Net margin | 7.4% | 20.3% | 9.6% | 8.3% | 9.2% | 3.3% |
| Return on equity | 9.0% | 26.3% | 10.5% | 43.3% | 80.7% | 25.8% |
| Return on assets | 7.1% | 20.6% | 8.2% | 26.4% | 33.9% | 7.8% |
| Free cash flow yield | 7.3% | 3.3% | 1.8% | 24.8% | 21.4% | — |
| Revenue growth | -6.3% | 57.2% | -73.1% | 9.8% | 436.8% | — |
| Earnings growth | -66.0% | 232.9% | -68.8% | -0.8% | 1405.0% | — |
| Current ratio | 2.31x | 3.43x | 1.50x | 1.26x | 1.34x | 0.91x |
| Debt to equity | 0.05x | 0.08x | 0.05x | 0.08x | 0.20x | 0.34x |
| Equity ratio | 78.4% | 78.2% | 78.5% | 61.0% | 42.0% | 30.3% |
| Interest coverage | 10.71x | 8.17x | 23.77x | 82.91x | 51.76x | 8.90x |
| Buybacks as a share of market value | 0.1% | -5.4% | 4.3% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.8% | 18.5% | — |
| Operating income | -40.7% | 25.8% | — |
| Net income | -25.7% | 39.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.0% | 11.9% | 11.4% | — |
| Operating margin | 4.4% | 7.5% | 8.0% | — |
| Net margin | 13.6% | 10.6% | 9.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | 14.1 | 16.4 | 10.5 |
| Price to sales | 1.0 | 3.3 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 26 Feb 2026.
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Paid in the year | 0.25 | 0.22 | 0.081 |
- 2-for-1 split · 28 Jul 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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